I picked up some pretty good habits when I worked for my last company - things that helped immensely in running my own business. One of those things was to get paid first (by the client) before paying the vendor. The goal was to never pay out before being paid. We’re not in the business of loaning anybody money, interior designers are not a bank.

“My own business is still young and the thing I feel like I struggle with the most is the very first client consultation. My struggle is this: how to get the client without giving away too many ideas. Clients all want to hear your ideas of their space or your inspirations but sometimes I feel like they take your initial suggestions and run away with it without me. How do I inspire confidence and trust with out giving too much away and getting the client to sign that contract?”Thanks! Kaitlyn

As I think back amongst “trends” in interior design over the past few years, I think of Kuba & Mud cloth, Handira, Suzanis, Juju hats, Indian block print, Hmong fabric pillows, ikat - design elements that are considered exotic, eclectic, ethnic, global.

But these design elements are “exotic” in the generic sense of “other” or “different” and in their rise to trend, most people didn’t know or didn’t care about the origin or cultures behind what was simply considered an interior design trend.

Today, I’m going to touch on some accounting principals, markup and margin. These are two terms that you may have to think about when you’re calculating profit and pricing in your business. These are numbers that you should be familiar with and how they play into your business because they can help with your profitability.

Markup and margin are not the same, even if occasionally you may hear them used in the same way.

Capella Kincheloe

Business Training for Interior Designers

I'm Capella. I am an interior designer who helps fellow designers build their businesses. Designers should support and uplift each other. A rising tide lifts all boats, by helping and boosting fellow designers I believe together we can elevate the business of interior design. Learn More